Transaction details
Crestview Partners, which holds approximately ten percent of Select Water Solutions Inc. (NASDAQ:WTTR), executed a sale of Class A common stock on April 8, 2026. The firm sold 2,430,240 shares of Class A Common Stock at $15.12 per share, and an additional 665,983 Class A shares at the same price, for a combined proceeds total of $36.7 million.
The same transaction set of filings shows related structural actions: 2,430,240 Class A shares were acquired through the redemption of Common LLC Units, and an equal number of Class B Common shares were cancelled for no consideration.
Market context and valuation
At the time of the sale WTTR shares were trading at $15.16, close to the 52-week high of $16. The company’s share price has climbed about 94% over the past year. WTTR currently trades at a price-to-earnings ratio of 73.74, and according to InvestingPro analysis cited in filings, the stock is considered overvalued relative to its Fair Value and is placed among names on the Most Overvalued list.
Recent corporate and market developments
Select Water Solutions recently declared a quarterly cash dividend of $0.07 per share on its Class A common stock. The dividend is scheduled to be paid on February 18, 2026 to shareholders of record as of February 6, 2026. A similar distribution has been approved for unitholders of SES Holdings, LLC.
The company also completed an underwritten public offering of 13,725,491 shares of Class A common stock, priced at $12.75 per share. That offering price was approximately 10% below the previous trading day’s close of $14.22.
On the research front, Northland upgraded Select Water Solutions’ rating to "Outperform" from "Market Perform," raising the price target to $18.00 from $12.00. Analyst Bobby Brooks pointed to strong fourth-quarter results and momentum in the company’s infrastructure and chemicals segments as the rationale for the change.
Summary of recent activity
- Crestview Partners sold a total of 3,096,223 Class A shares on April 8, 2026, at $15.12 per share, generating $36.7 million in proceeds.
- The transaction included the redemption of 2,430,240 Common LLC Units into Class A shares and the cancellation of 2,430,240 Class B shares for no consideration.
- Separate corporate actions include a $0.07 quarterly dividend, an underwritten offering of 13,725,491 Class A shares at $12.75, and a Northland upgrade with a higher $18.00 price target.
These filings and transactions comprise the recent notable activity surrounding Select Water Solutions and its publicly traded Class A common stock.